Many investors have shifted their capital into stocks, limiting the flow of funds into gold. Traders are concerned that the U.S. Federal Reserve (Fed) may maintain its tight monetary policy longer than anticipated.
Gold prices continue to decline today. (Illustrative image: Minh Đức)
This has pushed the 10-year U.S. Treasury yield up to 4.4%, while the recovery in oil prices has increased inflationary pressures, leading investors to favor interest-bearing assets over gold.
Today’s Gold Price Movements
+ Domestic Gold Prices
At 6 a.m. on July 1st, the price of gold bars at Doji and SJC was listed at 144 million VND/tael (buy) – 147 million VND/tael (sell), a decrease of 1.5 million VND/tael compared to the previous session.
Meanwhile, the price of gold rings at Doji is listed at 144 million VND/tael (buy) – 147 million VND/tael (sell), down 1.5 million VND/tael.
+ International Gold Prices
Global gold prices on Kitco are listed at $4,010/ounce, down $4/ounce from earlier this morning.
Gold Price Forecast
Experts believe gold may continue to decline before entering a new upward cycle. After losing nearly 10% in just one week, the market is seeing bottom-fishing buying, but the strong U.S. dollar continues to limit speculative inflows into precious metals.
Gold prices are expected to retreat to the $3,700–$3,800/ounce range, presenting an attractive buying opportunity. The technical trend remains bearish as prices are below long-term moving averages. The $4,000/ounce level is still seen as a critical psychological support, where buying and selling pressures will fiercely compete.
Gold Prices Continue to Plummet
This morning (June 24th), domestic gold prices continued their sharp decline. SJC gold bars dropped to 147 million VND per tael. The gap between domestic and international gold prices widened to 17 million VND per tael.
Gold Price Today, June 20: Continues to Decline
Gold prices continued their downward trajectory today as crude oil prices declined, while the US dollar maintained its robust upward momentum.
The Price of Gold Takes a Steep Tumble
This morning (May 13th), domestic gold prices plummeted in line with global gold rates. As a result, SJC gold bars hovered around VND 119 million per tael, while gold rings dipped to a minimum of VND 115 million per tael.
The Golden Opportunity: Unveiling the Sudden Drop in Gold Ring Prices on October 28th
The 99.99 gold ring price took a sharp downward turn by the end of the day, while several companies drove the buying price of SJC gold bars to a record high.
The Golden Stream: An Untapped Treasure Trove?
Although this site boasts an immense gold reserve, why has it been left untouched?